Download PDF
Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
Broker Contact Form
Name

Email

Phone

Comment


Modern Pizzeria Restaurant
(Food & Beverage , Pizzeria )
Morris County , NJ
Listed Price: $ 170,000
Listing ID: PZZA707

Listing DetailsGross Revenue: $ 468,000
Cash Flow: $ 94,500
FFE: $ 160,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The sale is due to the owner alternative business out of the area.


Training & Support:

The owner will remain post-closing and supply an appropriate transitional period.


OperationsYear Established: 1997
Days & Hours of Operation: Mon.-Sun. 11am-9pm
Non-owner Payroll: $ 8,500
Employees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7600
Monthly Rent: $ 4,400
Square Footage: 1850
Facilities:

This pizzeria is located in an active commercial supermarket mall with numerous other businesses. The facility consists of 1,850 square feet with a seating capacity for 52 customers. The business has an open stage kitchen, a walk-up area for fast-service, large basement and modern bathrooms. The business is in Morris County NJ in an attractive mall and located on an active highly trafficked county road. The general area has a substantial population including many businesses and daily shoppers who frequently use this food service.


SummaryBusiness Description:

Modern Pizza Restaurant in an excellent affluent area of Northern NJ, Morris County, and owner Must Sell due to his relocation into an alternative business. This successful restaurant and pizzeria business has a gross income of approximately $9,000 weekly and a dependable net income to the owner operator. All of their pizzas are made with fresh mozzarella, cooked to perfection, and topped with fresh basil. They have a large selection of pizzas including their special Original, Vegetable pie, Four Cheese, Philly cheese steak, Pesto pie, Chicken Parmigianino pie, Vodka pie, and many more! They have a variety of appetizers, soups, salads, Panini’s, and authentic coal oven pizza, they also have chicken, seafood, veal and pasta entrees. They do not have a delivery service which can substantially increase the gross income. The business host and service private parties for any occasion-birthdays, anniversaries, baby showers, and more. The business fixed assets which has an estimated value of approximately $160,000 which is based on equipment and licensing replacement cost. This retail business requires four employees who are unaware of the pending sale and fully prepared to remain, monthly payroll is approximately $8,500. The business is active seven days per week, hours 11:00 am to 9:00 pm. The sale includes a five-year lease term, which expires 12/31/2022 plus additional options, monthly rent of $4,400 all in, cost per square foot of $35.57, and rent security of $7,600. The price / value has been set at $170,000 based on the net yearly income and the value of the existing assets, possible owner / seller financing available to qualified buyer. Due to the non-disclosed income, an appropriate due diligence is recommended to purchaser. The business has a consistent income and is priced for an immediate sale. Based on the asking price, required down payment and net income this business should supply a dependable return on investment to the owner operator prior to debt service. The sale is confidential to the employees and public, all viewings are by appointment only, photo may not represent the business available for sale.


Competition:

Regarding competition, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business can be further improved with onsite ownership and a delivery service also with onsite ownership, a marketing plan and a web site, this business can be further improved and developed.


Financing/Terms:

Can be considered to a qualified buyer.